Oatly sinks after Credit Suisse downgrade

Oatly (OTLY.US) fell over 7.0% after Credit Suisse downgraded Swedish dairy-alternative food company stock to neutral from outperform as it believes that rising inflation in Europe and Asia may negatively impact demand, and expects consumers to turn to private-label alternatives. Analysts also lowered its price target to $3.43 from $6.00.

Oatly (OTLY.US) shares lost over 85.0% of their value since August 2021 high. Yesterday buyers did not manage to break above the downward trendline and stock launched today's session with a bearish price gap, weighed down by poor market sentiment and analysts downgrade. The nearest support to watch lies around all-time low at $2.90. Source: xStation5